Lesson 2 of 84 ยท Economics
โญ 30 XPโ Market PortGoods and Services
Goods are things you can touch, like a ball or a book.
๐ฏ Your mission
Trade-offs everywhere โ find them.
โก The twist
Cheap for you usually means expensive for someone else.
Mind = Blown
๐คฏ The first ATM was installed in 1967 โ and used radioactive ink.
Then & Now
๐ฑ This is happening in your local store every single day.
Goods are things you can touch, like a ball or a book. Services are things people do for you, like a haircut or a doctor's visit.
Key Facts
Producers make things; consumers buy them.
Every choice means giving up something else.
Needs are different from wants.
Check Your Understanding
Question 1
1 of 2What are goods?
Why this still matters
The next time you spend $1, ask: who else benefited besides you?
Stretch Challenge
Try this in real life this week.
Find two products that look similar but cost very different. Why?
For the dinner table
โIf you had $20 to start a business, what would you sell?โ
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